M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister Sells 1,638 Shares

M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

M&T Bank Stock Performance

Shares of MTB stock opened at $143.38 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The stock has a market cap of $23.89 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 1.20 and a beta of 0.80. The stock has a 50-day moving average of $139.96 and a 200-day moving average of $133.12. M&T Bank Co. has a one year low of $108.53 and a one year high of $148.23.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period last year, the company earned $4.09 earnings per share. As a group, sell-side analysts expect that M&T Bank Co. will post 13.98 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.63%. M&T Bank’s payout ratio is 35.16%.

Institutional Trading of M&T Bank

A number of large investors have recently bought and sold shares of the business. First Trust Direct Indexing L.P. increased its stake in M&T Bank by 16.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,347 shares of the financial services provider’s stock worth $487,000 after purchasing an additional 470 shares in the last quarter. Norden Group LLC bought a new stake in M&T Bank during the 1st quarter worth approximately $784,000. State of Alaska Department of Revenue increased its stake in M&T Bank by 0.6% during the 1st quarter. State of Alaska Department of Revenue now owns 18,024 shares of the financial services provider’s stock worth $2,621,000 after purchasing an additional 100 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in M&T Bank by 7.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after purchasing an additional 35,692 shares in the last quarter. Finally, Applied Capital LLC FL bought a new stake in M&T Bank during the 1st quarter worth approximately $4,069,000. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Jefferies Financial Group reduced their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, Evercore ISI upped their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $158.48.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.